UAE statistics on the average age of claims
Nobody likes to talk about it, but it could happen to anyone. I'm going to discuss briefly the UAE statistics from Zurich (One of the largest life insurance companies in the world).
50 years is the average age for life cover claimants and 27 was the youngest life cover claimant in 2016. This is the oldest average age of claimants when it comes to their covers. 49 years is the average age for family income claimants and 48 for critical illness. 45 years for accidental death and 43 for hospitalization. Finally, permanent and total disability has an average age of 41 years for claimants.
How many people do you know are in their 40's or 50? I know quite a lot of them. Getting a life cover is not something you do for yourself. You take it, because you want your beneficiaries (family and people close to you) to not be financially disturbed if something happens to you. When you take critical illness cover, hospitalization and permanent and total disability cover you take it to protect yourself. When your health changes, you will be financially effected. A combination of being out of work or lower income, high medical bills and other bills will gradually take a large toll on your financial situation. It might even withhold you from getting all the medical treatment that you need. Zurich statistics allow us to be educated about the risks in life, but we decide to act on it or to ignore it.
Posted on Thu, June 8, 2017
by Simon Snelder filed under